Engagement
Internal Control Readiness Review
A focused walkthrough of key financial controls before your first statutory audit or after a significant process change — without issuing an audit opinion.
When a company approaches its first statutory audit — or rebuilds period-close habits after a system change — an internal control readiness review helps the finance team see what an auditor will ask before the formal engagement begins.
This is not an audit opinion. It is a structured dry run of control design and limited operating effectiveness around revenue recognition, purchasing authority, bank reconciliations, and inventory movements. Findings are written for management, not for lenders.
Work is usually completed within two to three weeks for a single entity with one primary location. Multi-site manufacturers receive a staged schedule. We remain independent for subsequent statutory work when the readiness review stays advisory and does not involve preparing the accounts.
Who it is for
- Finance teams preparing for their first independent audit
- Companies that changed ERP or cash-handling procedures mid-year
Included
- Mapping of order-to-cash, procure-to-pay, and period-close controls
- Sample testing of control operation for selected periods
- Written readiness memo with prioritized remediation steps
Outside this engagement
- A statutory audit opinion
- Ongoing internal audit outsourcing
How the work proceeds
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1
Process interviews
We sit with process owners to document how approvals, reconciliations, and cut-off actually work.
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2
Sample evidence
Selected transactions are traced to source documents and system trails.
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3
Readiness memo
Gaps are ranked by impact on a future audit, with practical fixes for the next close.
Ready to discuss scope?
Share your year-end date, reporting framework, and prior-year findings. We will reply with a draft engagement outline.
Open an inquiry